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Ethiopia plans to continue development on the Grand Ethiopian Renaissance Dam (GERD) despite talks over the dam’s impact studies breaking down, Ethiopia’s Irrigation Minister and Electricity Minister Sileshi Bekele said on Saturday, according to a report by the Ethiopian News Agency (ENA) picked up by Al Bawaba. “On our part, we are constructing the dam […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Cypriot businessmen to visit Egypt soon
A business delegation from Cyprus will visit Egypt soon to build on talks that started during the Egyptian-Cypriot Business Forum in Cyprus last week, Head of the Egyptian-Cypriot Businessmen Council Saeed Ahmed said in a press statement Sunday. Cypriot investors have expressed interest in the Suez Canal Economic Zone and governorates such as Fayoum with […]
Posted inEnergy
EEHC issues open maintenance and management tender for three Siemens power plants
The Egyptian Electricity Holding Company (EEHC) issued an open tender for the management and maintenance of the three Siemens combined-cycle power plants, after previously opting for a limited one, EEHC sources tell Al Borsa. 10 companies, including Siemens, an Orascom-ADERA Energy consortium, an Elsewedy-EDF consortium, Germany’s STEAG GmbH, Hassan Allam, a Triangle-GD France consortium, Korea’s […]
Posted inBasic Materials + Commodities
Novasep to provide Al Nouran with process units
Al Nouran has contracted with Novasep to provide process units for its sugar production facility. Novasep will provide Al Nouran with a decalcification plant for the beet sugar factory allowing an effluent-free softening process and a decolorization plant with a brine recovery system for the refinery part. The value of the contract was not disclosed.
Posted inManufacturing
Work on Suez area business park to begin mid 2018
Work on the business park announced by Polaris Zamila and Ardak in Ain Sokhna is set to begin by mid 2018, according to AMAY. The 5.5 mn sqm project was announced earlier this month and is aiming to attract USD 3.5 bn in investments to the area over 15 years.
Posted inReal Estate + Housing
NUCA disburses EGP 2 bn of compensation payments to contractors
The New Urban Communities Authority (NUCA) has disbursed EGP 2 bn in compensation payments to contractors for losses incurred after the EGP float, NUCA Vice Chairman Abdel Moteleb Mamdouh said, Al Borsa reports. NUCA has disbursed the largest sum of compensation payments under the Contractors’ Compensation Act, which has helped contractors remain on schedule for […]
Posted inReal Estate + Housing
3,500 acres sold to developers in new administrative capital
The New Administrative Capital Company for Urban Development sold 3,500 acres of land to real estate developers for the first phase development of the new administrative capital, Daily News Egypt reports. The land sold will be used for residential projects, commercial and office blocks. The company, which manages development on the city, is considering raising […]
Posted inReal Estate + Housing
Oriental Development wins bid for 21.5 feddans of land in New Cairo
The Oriental Company for Urban Development bought 21.5 feddans in New Cairo for EGP 400 mn,according to AMAY. The Oriental Weavers subsidiary is waiting for the New Urban Communities Authority (NUCA) and General Investment Authority to sign off on the purchase before making payments. The company is planning a residential project to be built over […]
Posted inReal Estate + Housing
Heliopolis Housing says it netted EGP 76 mn in four months, only completed 59% of plan
Heliopolis Housing sent the EGX a note saying it registered a net profit after tax of EGP 76 mn from July until October 2017, up 292% y-o-y. The company’s revenues also went up by 124% y-o-y to EGP 235 mn during the same period. Heliopolis Housing also noted that it only achieved 59% of its […]
Posted inReal Estate + Housing
Marseilia Real Estate signs EGP 1 bn with contractors for Marseilia Beach 4
Marseilia Real Estate Investment signed EGP 1 bn with contractors for the second phase of their North Coast project Marseilia Beach 4,according to AMAY. The 150 feddan phase is being implemented over the next two years and will consist of 1,600 homes with a total investment of EGP 2 bn. The first phase has already […]